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DISCONTINUED PRODUCT - Product not available to new enrollees.

Retirement Advantage
Product ID: 226

Vendor:
Horace Mann Life Insurance Company
Type:
Mutual Fund 
Discontinued Discontinued


$199
0.49%
1 Years / 0.00%
Yes
Roth Eligible





Retirement Advantage is an open architecture 403(b)(7) program consisting of mutual funds and a Horace Mann Fixed Annuity. This product is not available through Horace Mann Life Insurance Company but is available through Horace Mann Investors, Inc. an affiliate of Horace Mann Life.

Select the topics below to expand and view additional product details


Advice is provided through our new best interest advice model.
The investment options available through the Retirement Advantage open architecture product do not include any 12b-1 fees or revenue share. The mutual funds are all 'no load' options.
SDBA offered through TD Ameritrade
The Rebalancing feature allows for automatic reallocation between any number of investment options, and participants can elect to have their accounts rebalanced to a defined asset class mixture on a set frequency using whole percentages.
The dollar cost averaging feature enables the participant to systematically transfer a certain dollar amount from one investment option into one or more selected investment options on a regular basis (monthly, quarterly, semiannually, or annually).
Unlimited but subject to market timing rules of the funds. The Horace Mann Group Unallocated Fixed Annuity has a restriction on transfers to competing funds.

Loans are available. Horace Mann will review the plan document to determine if the plan allows this provision. If loans are permissible, eligibility rules are based on the individual investment loan provisions

Hardship withdrawals are available. All plan hardship requests are reviewed based on the terms and conditions of the plan document and applicable IRS rules.

Required minimum distribution services are available. In order to comply with U.S. Treasury Required Minimum Distributions (RMD) regulations, participants are required to take a distribution of at least the minimum amount required by April 1 of the calendar year following the year age 70½ is attained or the calendar year in which the participant retires (whichever is later).

Yes


All 403(b) products contain fees. The amount of fees varies greatly depending on the product. A slight increase in fees can substantially reduce the growth in your account which will reduce your income in retirement. To learn more about the impact of fees, and the different types of fees please refer to the Explanation of Fees piece located in the Help & Resources.

Fees

1.25% Annually Percentage of Annual Assets Yes No No
Fee Waiver
This fee is only applied against the mutual fund value. This fee may be waived or reduced in certain group contracts.

$25.00 Annually Flat Dollar Amount Yes No No
Fee Waiver
This fee may be waived or reduced in certain group contracts.

Surrender Charges

Surrender Period* Surrender Percentage
1 0.00%

*Expressed in contract years


Surrender Penalty Charge assessed on a "rolling" basis: The Retirement Advantage program does NOT have any participant level surrender charges.
Exceptions to the Surrender Charge:
Other Restrictions:
NO surrender charges apply to this product.

Funding Options


Fixed Investment Options

Variable Investment Options


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